Inside Financial Markets

Amazon to let customers pay in Installments

Online retailer will allow people to spread payments of items over four years

 Amazon is to let customers pay for goods on its website in installments, as the online retailer steps up its attack on the UK high street.

The US giant, led by founder Jeff Bezos, will offer loans of up to four years for orders totalling more than £400, subject to a credit check.

Amazon Pay Monthly charges an interest rate of 16.9pc but no deposit is required. The scheme is run in conjunction with Hitachi Capital, which offers a similar service to John Lewis.

“The new Amazon Pay Monthly programme provides our customers with further payment options to suit their needs when shopping on our website, and it is easy, convenient and offers competitive rates and flexible terms,” Amazon told The Guardian, which first reported the launch.

The UK is believed to be the first country to receive Amazon Pay Monthly, which will only apply to goods sold and dispatched by Amazon itself.

It comes after the world’s largest online retailer revealed it would expand the range of its UK delivery service for households goods and groceries to take on the “Big Four” supermarkets.

The group’s Pantry service – which was launched in Britain in November – will be beefed up in 2016, adding new product lines, according to Christopher North, Amazon’s British boss.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

The Canadian Securities Institute


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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)